PHINIA Inc. $PHIN Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of PHINIA Inc. (NYSE:PHIN) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,139,519 shares of the company’s stock after selling 9,554 shares during the quarter. Geode Capital Management LLC owned 2.96% of PHINIA worth $71,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of PHINIA by 464.8% in the 1st quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after acquiring an additional 62,333 shares during the period. AQR Capital Management LLC lifted its stake in shares of PHINIA by 62.3% in the 1st quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after acquiring an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PHINIA by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after acquiring an additional 1,093 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after acquiring an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PHINIA by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock worth $4,000,000 after acquiring an additional 6,478 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHIN has been the subject of a number of recent analyst reports. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Freedom Capital downgraded PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings raised PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Northland Securities set a $93.00 target price on PHINIA in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.80.

PHINIA Trading Up 1.3%

Shares of PHIN stock opened at $80.51 on Tuesday. PHINIA Inc. has a fifty-two week low of $41.59 and a fifty-two week high of $83.35. The stock has a market cap of $2.98 billion, a P/E ratio of 22.49 and a beta of 1.16. The business has a fifty day simple moving average of $74.23 and a 200-day simple moving average of $68.68. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. During the same quarter last year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that PHINIA Inc. will post 6.36 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be given a $0.30 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. PHINIA’s dividend payout ratio (DPR) is currently 33.52%.

PHINIA Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.